Gold price dips Rs 110 to Rs 61,360, silver falls Rs 700 to Rs 74,500

The price of 24-carat gold dipped Rs 110 in early trade on Wednesday, with ten grams of the precious metal selling for Rs 61,360, according to the GoodReturns website. The price of silver fell Rs 700, with one kilogram of the precious metal selling at Rs 74,500.

The price of 22-carat gold fell Rs 100, with the yellow metal selling at Rs 56,250.

In Mumbai, the price of ten grams of 24-carat gold is in line with prices in Kolkata and Hyderabad, at Rs 61,360.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 61,510, Rs 61,360, and Rs 61,850, respectively.

The price of ten grams of 22-carat gold in Mumbai is at par with that in Kolkata and Hyderabad, at Rs 56,250.

In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 56,400, Rs 56,250, and Rs 56,700, respectively.  

US gold prices steadied on Wednesday as a retreat in US bond yields offset pressure from a stronger dollar, while investors sought more clarity on interest rates from the Federal Reserve after mixed commentary from the central bank officials.

Spot gold was flat at $1,968.64 per ounce by 0126 GMT after hitting its lowest since Oct. 24 on Tuesday. US gold futures edged 0.1 per cent higher to $1,975.20.

Spot silver fell 0.3 per cent to $22.56 per ounce, platinum eased 0.3 per cent to $888.60. Palladium was steady at $1,055.49, hovering near its lowest level since 2018.

In Delhi and Mumbai, one kilogram of silver is currently trading at Rs 74,500.

In Chennai, one kilogram of silver is trading at Rs 77,500.

(With inputs from Reuters)